Bailey v. . Hassell
Supreme Court of North Carolina
Appeal by plaintiff from Daniels, J., at tbe July Term, 1922, of "WASHINGTON. On. or about 21 March, 1915, tbe Farmers Union Supply Company, a corporation, executed to T. J. Basnigbt a certain mortgage deed, recorded in Book 67, page 165, to secure tbe payment of money borrowed by it for tbe purpose of purchasing a lot and erecting a building thereon in which to conduct its business, it being the same property described in said mortgage.
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Appeal by plaintiff from Daniels, J., at tbe July Term, 1922, of "WASHINGTON. On. or about 21 March, 1915, tbe Farmers Union Supply Company, a corporation, executed to T. J. Basnigbt a certain mortgage deed, recorded in Book 67, page 165, to secure tbe payment of money borrowed by it for tbe purpose of purchasing a lot and erecting a building thereon in which to conduct its business, it being the same property described in said mortgage. Sometime thereafter T. J. Basnight died and H. S. Basnight qualified as his administrator and made demand upon the supply company for payment of this…
1Opinion of the CourtWalkeb, J.
We will consider tbe questions in tbe same order as they are presented in tbe record.
It may be taken as settled that a corporation may adopt, alter, or change a common seal at its pleasure. C. S., 1126, subsee. 3. “Tbe power to have a common seal, and to alter or renew tbe same at will, is frequently conferred on corporations by statute, but such a power is one of tbe incidental and implied powers of every corporation when not expressly conferred.” 14 C. J., sec. 404, p. 334; 7 A. & E. (2 ed.), p. 690 et seq.; Railway Co. v. Hooper, 160 U. S., 514.
In this State'a corporation must convey its…
2Cases cited19 opinions
- Handley v. StutzSupreme Court of the United States · 1891
- Jacksonville, Mayport, Pablo Railway & Navigation Co. v. HooperSupreme Court of the United States · 1896
- Quinnerly v. . QuinnerlySupreme Court of North Carolina · 1894
- Aman v. Rowland Lumber Co.Supreme Court of North Carolina · 1912
- Heath, Springs & Co. v. Big Falls Cotton MillsSupreme Court of North Carolina · 1894
14 more not listed; retrieve them via the Exa API.
3Cited by23 opinions
- Price v. . AskinsSupreme Court of North Carolina · 1937
- Brown v. Town of HillsboroSupreme Court of North Carolina · 1923
- Tuttle v. Junior Building Corp.Supreme Court of North Carolina · 1948
- Land-Of-Sky Regional Council v. County of HendersonCourt of Appeals of North Carolina · 1985
- Wallace v. BellamySupreme Court of North Carolina · 1930
18 more not listed; retrieve them via the Exa API.